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Rigid Foam Market to Grow at a CAGR of 6.7% during the forecast period 2019 – 2027

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Rigid Foam Market to Grow at a CAGR of 6.7% during the forecast period 2019 – 2027

April 13
15:04 2021
Growing demand for rigid foam in the building and construction industry is projected to escalate the rigid foam market at a CAGR of 6.7%

Rigid foam is widely used in various end-use industries such as building & construction, appliances, packaging, automotive, and others. The building & construction segment was known to dominate the market in 2018 and is estimated to continue its dominance in the coming years. The rapidly rising cost of energy in many countries has swayed home builders towards the use of thermally efficient insulators such as rigid foams. Rigid foams are used to reduce the heat transfer between the house interior and the external environment and have led to an upsurge in the application of rigid foam in the building & construction sector. The rigid foam market is known to grow at a higher rate owing to the development of eco-rigid eco foam in the coming years.

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The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

The market for global rigid foam is concentrated with some very well-established players. Some of the key players in the global rigid foam market are Saint-Gobain, Dow Chemical Corporation, BASF SE, Borealis AG, Sekisui Chemical Co., Ltd, Covestro AG, Armacell International S.A., Huntsman International LLC, JSP, and Zotefoams Plc among others.

Rigid foam sheaths are used as insulation materials to control indoor temperature and thereby reduce the building’s energy consumption. Rigid foams made from expanded polystyrene (EPS), extruded polystyrene (XPS), and polyisocyanurate are valued for their thermal insulation properties and offer durability and moisture control. Rigid foams are used in the exterior and interior walls, underfloor, and roof assemblies to reduce the effect of thermal bridges. They also reduce or eliminate the quantity of air leaks. Rigid foams are used in walls to increase the overall R-value or thermal resistance of the wall. The use of thermally resistant rigid foams in the construction of houses significantly contributes to energy saving while reducing greenhouse gas (GHG) emissions. Rigid foams possess excellent structural and insulation characteristics and are seen as a cost-effective construction material. The use of rigid foams as insulation materials in the building and construction sector has started to gather pace. The rise in the importance of energy-efficient buildings is likely to spur the demand for thermal insulation materials such as rigid foams in the construction sector.

Strategic Insights

Merger and acquisition, new product development and strategy and business planning were observed as the most adopted strategies in global rigid foam market. Few of the recent developments in the global rigid foam market are listed below:

2018: The global chemical company Huntsman Corporation announced the opening of its new polyurethanes systems house which is located in the Jebel Ali Free Trade Zone in Dubai.

2019: Covestro has established new polyurethane systems which would enable up to 20 percent faster demolding of refrigerators and would also boost the insulating efficiency of existing rigid polyurethane foams.

2018: The company offers new packaged solution, Autofroth®, which features an innovative system that integrates multiple rigid foam production processes by supplying high-performance polyurethane foam systems in convenient cylinders with easy-to-use dispensing equipment, all supported by BASF

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GLOBAL RIGID FOAM MARKET SEGMENTATION

By Type

  • Polyurethane foam
  • Polystyrene foam
  • Polypropylene foam
  • Polyethylene foam
  • Polyvinyl chloride foam
  • Others

By End-Use Industry

  • Building & Construction
  • Appliances
  • Packaging
  • Automotive
  • Others

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA

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